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Russian regulator suggests increasing gas tariffs from next July

It is reported that the upward adjustment of tariffs will make it possible to keep reliable gas supplies to end consumers on account of implementation of corporate investment programs

MOSCOW, July 7. /TASS/. The Federal Antimonopoly Service (FAS) of Russia suggests increasing wholesale gas prices for industrial consumers and households by 8% since July 1, 2024, the regulator said in the draft order posted on the official website of legal information.

The upward adjustment by 8% is also proposed for gas tariffs since July 1, 2025. The previous increase of tariffs by 8.5% was on December 1, 2022.

"New wholesale gas prices will be effective since July 1, 2024. Therefore, their adjustment will be planned and the first one in eighteen months. The money received will be directed to social gas infrastructure development in regions and construction of new gas pipelines for consumers," the regulator’s press service told reporters.

The upward adjustment of tariffs will make it possible to keep reliable gas supplies to end consumers on account of implementation of corporate investment programs, the press service of the Russian Energy Ministry told TASS. "Over 30% of Russian gas pipelines are in service for more than forty years. Furthermore, the upward adjustment of tariffs will make it possible to expedite implementation of the social gas infrastructure development program that became an ongoing one," the ministry stressed.

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